Rhode Island managing general agent bonds.
$1,000 flat.
A Rhode Island managing general agent (MGA) is licensed under the Managing General Agents Act (R.I. Gen. Laws ch. 27-51), overseen by the Department of Business Regulation’s Insurance Division. This bond is the $100,000 figure on the MGA bond form — ours is $1,000 flat.
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How much does a Rhode Island managing general agent bond cost?
$1,000 at the $100,000 amount, the same for every applicant.
Three steps. One sitting.
MGA bonds are straightforward license bonds. Here's the entire process:
Apply online
Business details and an effective date. No financials, and no credit check.
Pay & e-sign
Fixed-amount license bonds like this often issue right after purchase.
File with the Insurance Division
Your executed bond arrives by email, ready to file with your MGA licensing record. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
A managing general agent (MGA) acts for an insurer with broad authority — binding coverage, underwriting, settling claims, or appointing producers on the insurer’s behalf. Because an MGA handles an insurer’s money and obligations, the relationship is closely regulated.
Rhode Island governs MGAs under the Managing General Agents Act, R.I. Gen. Laws ch. 27-51, administered by the Department of Business Regulation’s Insurance Division. The Act sets out MGA licensing, required contract provisions between the MGA and insurer, the insurer’s oversight duties, and examination authority. A surety bond like this one provides a financial backstop for the MGA’s obligations.
It is not insurance for you — if the surety pays a valid claim, you repay the surety. Because the exact bonding trigger and amount can depend on your appointment and the Insurance Division’s current requirements, confirm with the Division that this $100,000 MGA bond is what your situation calls for.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $100,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose; a longer term is the same price per year, chosen at checkout.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with the Insurance Division. Your executed bond arrives by email, ready to file with your MGA licensing record. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $1,000 at the $100,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
No credit check.
One application, issued instantly.
These are the actual issuing fields. No credit check.
Start the application →Common questions.
Other Rhode Island bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Finish your MGA filing today.
$1,000 flat, no credit check, bond often issued in 1–2 business days. Free until issued.